cawacko
Well-known member
Because it is inevitable. By about 2037 the revenue will only cover about 70% of benefits.
Instead raising taxes which also reduces a person's total income we could cut/eliminate those parts of Social Security which were not included in the original law--early retirement at age 62, full benefits at full retirement age regardless of income, etc.
Many people know that but it's all about the game of partisan politics, and within that game it's not about economic reality but rather political power and what you can accuse your opposition of to gain/maintain said power.
What you said above, which is accurate, would get you accused of wanting to cut S.S. We hear people say the "easy" answer is to raise S.S. taxes except it's not that "easy". That's viewing S.S. in a vacuum, which it is not. Taxes can only be raised so high and there's only so much money. So when we do raise taxes there are a lot of competing needs for those dollars. So simply saying all new tax revenue should go to S.S. might not get total support.
The reality it it's election season and these accusations get thrown out every two years like clockwork. Just part of the daily routine by now.